Haverhill City Council Considers Ban on Cryptocurrency ATMs

The Haverhill City Council is preparing to tackle several pressing issues, with one of the most significant being the proposed ban on cryptocurrency ATMs. The ordinance, put forth by Mayor Melinda E. Barrett, seeks to address consumer protection concerns surrounding these machines.

According to the proposal, unregulated cryptocurrency ATMs pose risks to consumers, including financial fraud, money laundering, and lack of recourse for users. If approved, existing machines would need to be removed within 60 days, with violators facing fines of $300 per day.

In addition to the ban on cryptocurrency ATMs, councilors will also consider the purchase of a 5.3-acre parcel on East Broadway to site a supplemental drinking water well. This move aims to improve the city's water infrastructure and alleviate concerns about water quality.